XML 69 R54.htm IDEA: XBRL DOCUMENT v3.25.1

Note 23 - Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2024

Notes Tables

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

(in thousands)										December 31, 2024
		Fair Value Measurements at the End of the Reporting Period Using
						Quoted
						Prices in
						Active				Significant
						Markets for				Other				Significant
						Identical				Observable				Unobservable
						Assets				Inputs				Inputs
		Total				(Level 1)				(Level 2)				(Level 3)
Recurring fair value measurements
Assets:
Fixed maturities:
U.S. government, government agencies and authorities		$	13,354			$	—			$	13,354			$	—
States, municipalities and political subdivisions			2,775				—				2,775				—
Mortgage-backed			9,886				—				9,886				—
Asset-backed			1,326				—				1,326				—
Corporate			9,622				—				9,622				—
Total fixed maturities			36,963				—				36,963				—
Limited liability investment, at fair value			2,859				—				—				2,859
Total assets		$	39,822			$	—			$	36,963			$	2,859
Liabilities:
Subordinated debt		$	13,409			$	—			$	13,409			$	—
Contingent consideration			2,725				—				—				2,725
Total liabilities		$	16,134			$	—			$	13,409			$	2,725

(in thousands)										December 31, 2023
		Fair Value Measurements at the End of the Reporting Period Using
						Quoted
						Prices in
						Active				Significant
						Markets for				Other				Significant
						Identical				Observable				Unobservable
						Assets				Inputs				Inputs
		Total				(Level 1)				(Level 2)				(Level 3)
Recurring fair value measurements
Assets:
Fixed maturities:
U.S. government, government agencies and authorities		$	12,997			$	—			$	12,997			$	—
States, municipalities and political subdivisions			2,783				—				2,783				—
Mortgage-backed			9,253				—				9,253				—
Asset-backed			1,210				—				1,210				—
Corporate			10,230				—				10,230				—
Total fixed maturities			36,473				—				36,473				—
Equity investments			79				79				—				—
Limited liability investment, at fair value			3,496				—				—				3,496
Derivative contract - interest rate swap			49				—				49				—
Total assets		$	40,097			$	79			$	36,522			$	3,496
Liabilities:
Subordinated debt		$	13,594			$	—			$	13,594			$	—
Contingent consideration			3,105				—				—				3,105
Total liabilities			16,699				—				13,594				3,105

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

(in thousands)		Years ended December 31,
		2024				2023
Assets:
Limited liability investment, at fair value:
Beginning balance		$	3,496			$	3,196
Contributions			—				47
Distributions received			(2,347	)			(876	)
Realized gains included in net (loss) income			1,369				481
Change in fair value of limited liability investments, at fair value included in net (loss) income			341				648
Ending balance		$	2,859			$	3,496
Unrealized gains on limited liability investments, at fair value held at end of period:
Included in net (loss) income		$	341			$	648
Included in other comprehensive income (loss)		$	—			$	—
Derivative - trust preferred debt repurchase options:
Beginning balance		$	—			$	19,034
Exercise of options included in net (loss) income			—				(17,668	)
Change in fair value of derivative assets included in net (loss) income			—				(1,366	)
Ending balance		$	—			$	—
Unrealized gains recognized on derivative assets held at end of period:
Included in net (loss) income		$	—			$	—
Included in other comprehensive income (loss)			—				—
Ending balance - assets		$	2,859			$	3,496
Liabilities:
Contingent consideration:
Beginning balance		$	3,105			$	3,218
Settlements of contingent consideration liabilities			(650	)			(375	)
Change in fair value of contingent consideration included in net (loss) income			270				262
Ending balance		$	2,725			$	3,105
Unrealized losses recognized on contingent consideration liabilities held at end of period:
Included in net (loss) income		$	270			$	262
Included in other comprehensive income (loss)		$	—			$	—
Ending balance - liabilities		$	2,725			$	3,105

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

Categories		Fair Value			Valuation Techniques	Unobservable Inputs		Input Value(s)
Limited liability investment, at fair value		$	2,859		Market approach	Valuation multiples		1.0x - 9.0x
Contingent consideration		$	2,725		Option-based income approach	Discount rate			8.25	%
						Risk-free rate		4.96		%
						Expected volatility		9.0		%

Categories		Fair Value			Valuation Techniques	Unobservable Inputs		Input Value(s)
Limited liability investment, at fair value		$	3,496		Market approach	Valuation multiples		1.0x - 9.0x
Contingent consideration		$	3,105		Option-based income approach	Discount rate			8.25	%
						Risk-free rate		4.96		%
						Expected volatility		9.0		%

Fair Value, Nonrecurring [Member]

Notes Tables

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

Categories			Fair Value		Valuation Techniques	Unobservable Inputs			Input Value(s)
Customer relationships			$ 1,000		Multi-period excess earnings	Growth rate			3.0%
						Attrition rate			5.0%
						Discount rate			21.5%
Developed technology			$ 600		Relief from royalty	Royalty rate			5.0%
						Discount rate			19.5%
Trade name			$ 120		Relief from royalty	Royalty rate			0.8%
						Discount rate			19.5%

Categories		Fair Value			Valuation Techniques	Unobservable Inputs		Input Value(s)
Customer relationships		$	6,700		Multi-period excess earnings	Growth rate			3.0	%
						Attrition rate			5.0	%
						Discount rate			27.0	%
Trade name		$	260		Relief from royalty	Royalty rate			1.0	%
						Discount rate			25.0	%

Categories		Fair Value			Valuation Techniques	Unobservable Inputs		Input Value(s)
Customer relationships		$	11,100		Multi-period excess earnings	Growth rate			3.0	%
						Attrition rate			2.0	%
						Discount rate			25.0	%
Trade name		$	1,500		Relief from royalty	Royalty rate			2.0	%
						Discount rate			25.0	%

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 101
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-101

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_TableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_FairValueByMeasurementFrequencyAxis=us-gaap_FairValueMeasurementsNonrecurringMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: